Financial Inclusion – OPTIX

Optimizing Performance Through Improved Cross-sell (OPTIX)

Microfinance ventures have grown rapidly in Bangladesh and opened up economic portals for millions of women and men formerly living in poverty. However, most microfinance institutions (MFIs) have a tendency to become inflexible and unimaginative. Labors vital to innovate and offer tailored services to the poor are not applied. SAJIDA Foundation has been selected as a partner of Optimizing Performance Through Improved Cross(X)-Sell (OPTIX). This program seeks to provide MFIs and cooperatives in four countries – Bangladesh, Mexico, Colombia and Vietnam – with a range of financial apparatuses that can assist them to better cater to their clients. OPTIX is funded by MetLife Foundation which has acquired a grant from Rockefeller Philanthropy Advisors and is managed by the technical advisors, Bankable Frontier Associates (BFA).

Over the course of the three-year project, OPTIX will help SAJIDA Foundation develop a range of financial instruments and tools crafted for its low-income clients. Cross-selling a variety of monetary products will elevate SAJIDA client retention, secure organizational niches lacking in larger competitors, and allow it to better tailor its processes for the markets SAJIDA serves. In the OPTIX project, SAJIDA and BFA will recalibrate SAJIDA tactics and strategies to boost cross-selling via a three step process:

  • Design analytical frameworks to test and define opportunities to increase cross-sell
  • Develop the cross-sell strategy using client insights
  • Implement, monitor and reevaluate the cross-sell strategy

Using a client centered approach, OPTIX will seek to maximize outcomes for SAJIDA and its clients. The bilateral initiative headed by OPTIX will also share findings with other financial institutes. This in turn will aid them in devising strategies and products that are scalable and sustainable to better meet the needs of low-income customers around the world.